Canadians less optimistic of growing house prices

by Jamie Henry23 Dec 2014

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Canadians less optimistic of growing house prices

The latest figures from the Bloomberg Nanos Canadian Confidence Index show growing pessimism over property prices. The index is based on weekly telephone polling and the latest data, for last week, shows that 34.7 per cent of respondents believe home prices will be higher in six months, that’s down from 37.8 per cent in the week earlier. Those who felt prices would go down increased to 13.9 per cent, a rise of 0.6 per cent from the previous week. When asked about the economy overall 29.9 per cent felt that it would not be stronger in six months, up from 26.4 per cent a week earlier. The low oil price is the main factor in falling optimism with a slowdown in the energy sector and lower oil revenues for government among the concerns.

Housing market is all on the back of immigrants and immigration to this country mainly from 3 countries that 2 have over a billion people, hence an endless supply. The safety net though now has been launched, the end of the manipulation and control of oil. US will strengthen for the drop in oil as it is like a welfare check every week to 350 million Americans since the cost of living is far less than anywhere in Canada. To Canadians it is just a handful of nuts and higher government debt for oil and energy taxation has carried the day. Difference for us over the US, the coming rise of interest rates in 2015 will divide the "ups", the "haves" and "have nots" even more than they are now, where in the US, those hurt by the crash, the most will benefit from the stimulated economy.

The socialism in our country is going to bankrupt us all. One thing is for sure, our people will do anything to save their houses. That's their lives, pitiful as it may sound.